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Advice and insight
10 January 2012
New York, NY - HSBC North America Holdings Inc. (HSBC) today announced the appointment of Stephen Bottomley as a Senior Executive Vice President and Head of Commercial Banking for North America. Based in New York City, he will manage HSBC's commercial banking operations across the United States, Canada and Bermuda. He succeeds Mark Watkinson, who became Chief Executive Officer, Malta. In his new role, Bottomley reports to Alan Keir, Group Managing Director and Global Head of Commercial Banking, and locally to Irene Dorner, Group General Manager, President and CEO, HSBC USA.
Prior to his new role, Bottomley served as HSBC's Head of Strategy and Planning for the Middle East and North Africa (MENA) region. During his nearly 30-year career with HSBC, Bottomley has held numerous executive leadership positions, including as the Head of European Strategy, the Head of Commercial Banking in the United Kingdom and the Head of Commercial Finance in Europe. One of Bottomley's first executive assignments was in Toronto as an Assistant Vice President with HSBC Bank Canada.
"Today, tremendous opportunity exists for North American businesses to flourish in the international marketplace," said Irene Dorner. "Steve will lead a growing commercial banking business here, which is at the center of HSBC's strategy in the region. I am confident Steve's experience, ability to execute and strong leadership will further our efforts to serve the growing number of small, middle-market and large companies conducting business or considering conducting business internationally."
With commercial banking operations in 65 markets around the world, including every region of the U.S., HSBC is the world's leading international business bank and widely recognized as a leading authority and trusted advisor on international trade and finance matters.
"North America accounts for nearly 15 percent of world trade, making it a vital international trade hub and an important regional market for HSBC. In coming years, international trade flows from the region are expected to grow substantially, especially with many emerging economies where HSBC has a long established presence," Alan Keir said. "Clients in the United States, Canada and Bermuda will be well served by Steve, a leader well versed in all that HSBC has to offer commercial banking clients requiring credit, trade and treasury solutions in current markets they operate or in new international markets where they want to expand their business."
Bottomley is a 1982 graduate of Loughborough University in the United Kingdom, where he earned a bachelor's degree in banking and finance.
HSBC North America Holdings Inc. is one of the ten largest bank holding companies in the United States with assets of US $366.3 billion at 30 June 2011 (US GAAP). The company's businesses serve customers in the following key areas: retail banking and wealth management, credit cards, specialty insurance products, commercial banking, private banking, asset management, and global banking and markets.
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.
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